Tata Teleservices - Updates on Open Offer

Lazard India Pvt Ltd ("Manager to the Offer"), on behalf of NTT DOCOMO, INC ("Acquirer") along with Tata Sons Ltd ("Persons Acting in Concert and referred to as "PAC"), has issued this Announcement to the Equity Shareholders of Tata Teleservices Maharashtra Ltd ("Target Company"), which is in continuation of and should be read in conjunction with the PA, published on November 14, 2008, in relation to the Offer (as defined below), pursuant to and in compliance with Regulation 10 and Regulation 12 and other applicable provision of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations 1997 and subsequent amendments thereto ('Regulations') With reference to the Public Announcement whereby the Acquirer and PAC made an Open Offer to the equity shareholders of the Target Company to acquire up to 384,241,919 equity shares of face value Rs 10/- each, representing in aggregate 20% of the fully diluted equity share capital of Target Company at a price of Rs 24.70 per share ("the Offer"), the equity shareholders are requested to not the following: In compliance with Regulation 18(1) of the Regulations, the draft Letter of Offer was submitted to Securities and Exchange Board of India (SEBI). The final observations letter in terms of Regulation 18(2) of the Regulations from SEBI is still awaited. Hence, the schedule of activities set out in paragraph 53 of the PA will undergo a change. Accordingly, the date of opening of the offer stated in the PA i.e. January 08, 2009 is postponed, till further notice in this regard is published by the Manager to the Offer. The revised schedule of activities in respect of the Offer pertaining to acquisition of the equity share of Target Company will be announced separately on receipt of observation from SEBI in terms of the Regulations. The terms used but not defined in this Announcement shall have the same meaning assigned in the PA.